How To Spot a Great Property Manager
A great property manager can often add significant margin to your monthly residential rental portfolio revenue. Below are a few things to look for when hiring a property manager:
Their attention to detail – In business as in life, it’s all about the details. Keeping meticulous records of services provided, tasks due, and tenant requests often makes the difference between a great property manager and one that needs to be replaced.
Their delegation skills – Understanding what they can do, and what a service professional should be called in for is critical. The difference between “getting it right” the first time, and missing may result in a costly mistake.
How they prioritize – Understanding what tasks are urgent, and which once can be completed on a set schedule will save time and money.
The amount they care about the job – Property managers manage one of the most important aspects of people’s lives, there home. If they don’t take that seriously, get rid of them.
Their record keeping skills – legal documentation, rent checks, tax records, etc… all records are critical for your business. A good property manager knows where everything is, and how to get it.
They maintain Calm under pressure – All good property managers are amazing under pressure. They can effectively juggle multiple tasks.
The combination of these skills and attributes will result in happy tenants, and even happier real estate investors. Consider developing skills through training if there are a few lacking, but you see potential. Visit us at www.b2rfinance.com and follow us on Twitter @B2RFinance.
The information on this page is provided for informational purposes only and does not constitute investment, real estate, or legal advice. This information should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. No representations or warranties whatsoever, express or implied, are given as to the accuracy or applicability of the information contained herein. The information may be modified or rendered incorrect by changes in the marketplace or developments in the law, or for any other reason, and may not be applicable to any individual reader’s facts and circumstances.